Telephone & Data Systems Inc. (NYSE:TDS)’s share price dropped 1.5% during trading on Monday . The company traded as low as $30.91 and last traded at $31.24, with a volume of 194,926 shares. The stock had previously closed at $31.72.

Several equities analysts recently issued reports on TDS shares. Zacks Investment Research upgraded Telephone & Data Systems from a “hold” rating to a “buy” rating and set a $31.00 price target on the stock in a research note on Thursday, May 12th. Morgan Stanley restated a “hold” rating on shares of Telephone & Data Systems in a research note on Thursday, June 30th.

The stock’s 50-day moving average is $29.10 and its 200 day moving average is $27.33. The stock has a market cap of $3.40 billion and a PE ratio of 42.77.

Telephone & Data Systems (NYSE:TDS) last issued its earnings results on Friday, May 6th. The company reported $0.07 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.10 by $0.03. During the same period in the prior year, the business earned $1.33 EPS. The company had revenue of $1.24 million for the quarter, compared to analyst estimates of $1.26 million. The business’s revenue was down .7% compared to the same quarter last year. Equities research analysts anticipate that Telephone & Data Systems Inc. will post $0.40 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, June 30th. Shareholders of record on Thursday, June 16th were issued a $0.148 dividend. The ex-dividend date was Tuesday, June 14th. This represents a $0.59 annualized dividend and a yield of 1.90%.

In other Telephone & Data Systems news, SVP Scott H. Williamson sold 13,146 shares of the stock in a transaction dated Wednesday, June 29th. The shares were sold at an average price of $28.58, for a total value of $375,712.68. Following the transaction, the senior vice president now directly owns 43,308 shares of the company’s stock, valued at approximately $1,237,742.64. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Clarence A. Davis sold 1,400 shares of the stock in a transaction dated Friday, June 10th. The shares were sold at an average price of $28.24, for a total transaction of $39,536.00. Following the completion of the transaction, the director now directly owns 7,649 shares in the company, valued at $216,007.76. The disclosure for this sale can be found here.

A number of hedge funds and institutional investors recently added to or reduced their stakes in the stock. Russell Frank Co boosted its position in Telephone & Data Systems by 7.7% in the fourth quarter. Russell Frank Co now owns 228,565 shares of the company’s stock valued at $5,998,000 after buying an additional 16,274 shares in the last quarter. Retirement Systems of Alabama boosted its position in Telephone & Data Systems by 1.5% in the fourth quarter. Retirement Systems of Alabama now owns 121,361 shares of the company’s stock valued at $3,142,000 after buying an additional 1,811 shares in the last quarter. California State Teachers Retirement System boosted its position in Telephone & Data Systems by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 179,728 shares of the company’s stock valued at $4,653,000 after buying an additional 2,863 shares in the last quarter. First Trust Advisors LP boosted its position in Telephone & Data Systems by 0.7% in the fourth quarter. First Trust Advisors LP now owns 437,954 shares of the company’s stock valued at $11,339,000 after buying an additional 3,137 shares in the last quarter. Finally, Comerica Bank boosted its position in Telephone & Data Systems by 0.8% in the fourth quarter. Comerica Bank now owns 65,979 shares of the company’s stock valued at $1,574,000 after buying an additional 512 shares in the last quarter.

Telephone and Data Systems, Inc is a diversified telecommunications company. The Company conducts its Wireless operations through its subsidiary, United States Cellular Corporation (U.S. Cellular). It provides Wireline services, cable services and hosted and managed services, through its subsidiary, TDS Telecommunications Corporation (TDS Telecom).

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